For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Markets Next Week; Global Cues, Crude Oil Continue To Remain Key

|

Benchmark indices ended the week with cuts of almost 1 per cent on the Nifty and the Sensex. The trend of markets falling sharply in the initial part of the week and then recovering in the latter part of the week continued.

Markets Next Week; Global Cues, Crude Oil Continue To Remain Key
It was once again banking stocks which plunged in trade. Shares in ICICI Bank, Bank of Baroda and State Bank of India hit fresh 52-week highs. Metal stocks saw some recovery on Friday after reports that there would be import duties.
 

Key for markets next week would be results from some biggies in the banking sector, including the likes of State Bank of India and Bank of Baroda. The stocks have been hammered so badly and sentiments for the banking sector is so low, that any deterioration in asset quality that is even slightly lesser than expectation could see further price damage.

Apart from this markets would also eye the CPI inflation data. Global cues would remain the key to market movement. They would digest the US jobs data along with how crude prices move going forward. US Jobs data was mixed with new additions at lower than expected, but wages increased and a drop in unemployment numbers raised fresh worries of a US Fed interest rate hike.

Foreign Institutional Investors continued to be net sellers in the markets, though it was also surprising to see domestic institutions selling stocks for a couple of days during the week.

Results that disappointed saw their stocks being hammered, including the likes of Just Dial and Interglobe.

One thing is certain there is going to be enormous volatility going forward. If you are a long term investor, you might still find value in select pockets.

GoodReturns.in

Read more about: sbi bank of baroda
Story first published: Saturday, February 6, 2016, 9:11 [IST]
Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more